8/27/09
Facility Will Serve Furniture Maker’s First L.A. Area Store
Room & Board Leases Largest Building In New Storm Business Park, Torrance; Supports First L.A. Store
TORRANCE, CA – Stating that new class A industrial buildings in the South Bay submarket are trumping a challenging economy by appealing to established companies, brokers from The Klabin Company announce that Room & Board, a long-standing American-made home furnishings company, has leased the largest building in the newly opened Storm Business Park in Torrance.
The newest phase of Storm Business Park, a development located in the Los Angeles City Enterprise Zone, comprises three new industrial buildings totaling 175,500 square feet of space. The business park currently totals 550,000 square feet in 13 buildings.
Room & Board leased a 70,233 square foot warehouse/distribution facility located at 1390 W. Storm Parkway, Torrance. The building will serve as the primary distribution point for the first Room & Board store in the Los Angeles area, soon to open in Culver City at the historic Helms Bakery District.
Courtney Bell and Matt Stringfellow in The Klabin Company’s Torrance office represented Storm Properties, Inc., developer of Storm Business Park, and Rooney Daschbach and Rusty Smith of Cushman & Wakefield represented the tenant. The 63-month lease is valued at approximately $3 million. A fourth quarter occupancy is scheduled.
The new building to be occupied by Room & Board is a freestanding concrete tilt-up structure. Key features include 18 dock high and two ground level doors, 30-foot minimum clear height, ESFR sprinkler system, and fenced yard.
Two other buildings of 48,081 and 57,343 square feet are available with space options ranging from 24,000 to 57,000 square feet. Bell and Stringfellow are marketing the buildings.
Established in 1980, Room & Board is a Minneapolis-based furniture retailer offering distinctive home furnishings that combine classic, simple design and quality using natural materials. More than 85 percent of its furniture is manufactured in America. A company news release states that the new Torrance distribution center will facilitate customer deliveries to the region.
“Higher quality new buildings are attracting substantial attention in today’s market, particularly among established companies planning ahead for a resurgent economy,” Bell said. Stringfellow added: “There is no shortage of Class B and C buildings in the South Bay. So a new Class A building with proper loading is getting special attention.”
About The Klabin Company
Now in its fifth decade, The Klabin Company is ranked among the top 20 commercial real estate companies based in Los Angeles. The firm has offices in Los Angeles and Torrance, and is affiliated with CORFAC International. For more information go to www.klabin.com.
CORFAC International is one of the largest commercial real estate services organizations in the world. CORFAC is comprised of privately-held entrepreneurial firms serving more than 150 markets in The Americas and internationally through its KingSturge CORFAC International alliance. Last year, CORFAC firms completed over 9000 commercial real estate transactions, encompassing more than 300 million square feet and valued in excess of$30 billion. For more information on CORFAC visitwww.corfac.com.
About Storm Properties , Inc.
Storm Properties Inc., a division of Storm Industries, Inc., is a developer of commercial and industrial real estate properties throughout Southern California. Its portfolio includes completed industrial buildings and vacant industrial land in Perris. Storm Properties has been in business for more than 35 years and is located in Torrance, CA. For more information visit www.Storm-Properties.com. For more information on Storm Business Park, visit www.StormBP.com.
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